This COVID-19 pandemic has presented an enormous challenge for businesses – particularly small businesses. First of all, we wish good health to both businesses and our neighbors in surviving this pandemic. There are also lessons to be learned about public safety and socializing that will have lasting implications where life as we knew it will need to adapt and change in the future. This also represents a different world for businesses to be successful and the need to adapt. Those businesses expecting and waiting for a return to ‘normal’ will have the least likelihood of success. CI Works has always promoted innovation, flexibility and multi channel sales activities, but now will be even more critical for survival for businesses to incorporate.
CI Works is always willing to work with our tenant businesses to succeed ‘jointly’. We happened to need a new sign along Elm St. and DeLunatic Signs is our tenant, so in the attached picture – we have a sign and they have a rent payment. BareWolf Brewing is designated as an ‘essential’ business per MA guidelines, so they continue to operate a take out beer business (sign attached) within their leasehold, with a slight adjustment to provide use of an adjacent loading dock space so that their customers don’t need to enter the taproom which has been closed per state guidelines – and remain safe.
While some businesses have been forced to stand down, other CI Works companies have chosen to adapt to changing conditions and to succeed, and in some instances, by adapting early, these new channels have catalyzed growth and expansion during these challenging times. While we have known that the internet is a game changing opportunity, some companies have chosen and not embraced that change. The internet has completely changed the way people shop and has revolutionized retail. We are living through a period where traditional retail has all but disappeared. At the same time, internet sales are booming, but only for those companies willing to get out ahead and be prepared and have embraced it. In this fast paced and changing world, every company needs to be change welcoming and multi-channel as to sales opportunities. Those willing have seen not only increased sales but also opportunity to adapt product lines to changing customer demands as growth catalysts. This behavioral adaptability also represents a brand changing opportunity that will prevail well out into the future by changing in critical times.
This month, CI Works has elected to focus our newsletter on companies that have shown this willingness and adaptability and share their success stories in our newsletter. These adapters stories present scripts for how other companies can behave in the future to diversify and grow and make a part of your company’s DNA.